VANCOUVER, BRITISH COLUMBIA--(Marketwire -06/20/12)- NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Williams Creek Gold Limited (WCX.V) ("Williams Creek", "WCX" or the "Company") is pleased to announce that now that the Company has begun work on its British Columbia exploration projects (NR WCX12-07, June 12 2012) and on its Big Sky joint venture with Tyhee Gold Corp in Yellowknife (NR WCX12-06, May 31 2012), it is also initiating its 2012 USA exploration program with a primary focus on Nevada properties.
The 2012 US program is designed, in part, to follow up on prospects developed during the 2011 US program which consisted of limited reconnaissance exploration, staking of the BOPS epithermal system in north central Nevada, and the evaluation of several properties in Nevada, New Mexico, Utah, Idaho, Arizona, and California.
The 2012 US program will initially focus on projects located in Nevada, with a specific emphasis on joint ventures or partnerships on mid- to late-stage prospects that were developed by Williams Creek over the past few months. The program will primarily focus on the prolific gold districts of Nevada and will include due diligence, property evaluations, discussions with companies interested in joint ventures or partnerships, and reconnaissance exploration. Field evaluations are already planned for several gold properties that meet the Company's established criteria.
The program will be conducted by Childs Geoscience Inc., Consulting Economic Geologists, of Bozeman, Montana. Williams Creek is actively seeking joint venture submissions from interested property owners and companies.
Michael R. Sonnenreich, Chairman and CEO of Williams Creek Ltd, commented, "We are excited to establish a presence in this world-class and very productive gold region. Acquisition of properties in Nevada and adjacent areas represents an opportunity to operate year-round in stable political environments that are friendly to mining activity, while increasing shareholder value through the diversification of our projects."
The technical information in this news release has been approved by consulting geologist John F. Childs, PhD. Mr. Childs is a "Qualified Person" as defined under National Instrument 43-101.
About Williams Creek Gold Limited (WCX)
Visit www.WilliamsCreek.ca to learn more about Williams Creek Gold Limited.
Williams Creek Gold Limited is a Canadian company with the primary purpose of participating broadly in the natural resource sector, with an emphasis on the gold subsector, through exploration, joint ventures or other equity investments, royalty and finance agreements.
Williams Creek Gold Limited owns 28 Crown Granted mineral claims in the immediate vicinity of Barkerville, BC in the Cariboo Mining Division. The Cariboo gold belt and the Barkerville Camp have a long history of gold production dating back to the 1800s. Historically the Barkerville Camp has reported gold production of 3.8 million ounces, including 2.6 million ounces from surface placer and 1.2 million ounces from lode mining. When placer gold production peaked in the late 1890s, Williams Creek Gold's Black Jack (District Lot 1B), Home Stake (District Lot 4B), Cornish (District Lot 1F) and Wintrip (District Lot 32F) Crown Granted mineral claims were among the first acquired in the early search for lode gold.
Williams Creek Gold Limited also owns a block of four mineral claims 17km west of Barkerville known as the Pine Properties. The Company has three Crown Granted mineral claims in the Kamloops Mining Division, two of which are adjacent to New Gold's New Afton project. Williams Creek Gold Limited also owns the Ahbau Creek, Chubby Bear and Ahbau Lake claim groups in Central British Columbia, as well as the BOPS claims in Nevada.
Williams Creek Gold is earning a 50% interest in the Big Sky Property north of Yellowknife, NWT. Its joint venture partner is Tyhee Gold Corp.
Additionally, Williams Creek Gold Limited has a net 30% interest in the ATW diamond property in the MacKenzie Mining District of the Northwest Territories.
On Behalf of the Board of Directors
Michael R. Sonnenreich, Chairman and CEO
Williams Creek Gold Limited
This news release may contain forward-looking statements including management's assessments of future plans and operations, and expectations of future production. These statements are based on current expectations that involve a number of risks and uncertainties, which could cause actual results to differ materially from those anticipated. These risks include, but are not limited to, the risks associated with the mining and exploration industry (e.g. operational risks in development, exploration and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of reserve estimates; the uncertainty of estimates and projections relating to production and the uncertainty of the availability of capital). The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.
THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN. THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM.
The TSX Venture Exchange has not reviewed nor accepted responsibility for the adequacy or accuracy of this news release which has been prepared by management.
Williams Creek Gold Limited
Michael R. Sonnenreich
Chairman and CEO